Harvest Fund Management Co. Ltd Has $191,000 Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Harvest Fund Management Co. Ltd boosted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 126.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,617 shares of the technology infrastructure company’s stock after buying an additional 904 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Akamai Technologies were worth $191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AKAM. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Akamai Technologies in the 4th quarter worth approximately $1,184,000. Quadrature Capital Ltd purchased a new stake in Akamai Technologies in the 3rd quarter worth approximately $4,238,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Akamai Technologies during the fourth quarter valued at about $1,879,000. Alpine Global Management LLC bought a new position in Akamai Technologies in the third quarter worth $2,791,000. Finally, International Assets Investment Management LLC bought a new stake in Akamai Technologies during the fourth quarter worth about $41,880,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. KeyCorp increased their target price on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. lifted their price objective on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their target price for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 target price on shares of Akamai Technologies in a report on Wednesday, February 14th. Finally, Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $121.27.

Insider Activity at Akamai Technologies

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares in the company, valued at $3,410,847.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Adam Karon sold 8,394 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the sale, the chief operating officer now owns 21,046 shares in the company, valued at approximately $2,278,439.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,353 shares of company stock worth $3,688,883. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $102.19 on Thursday. Akamai Technologies, Inc. has a 52-week low of $76.85 and a 52-week high of $129.17. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The business’s 50-day moving average price is $107.32 and its 200 day moving average price is $112.37. The firm has a market cap of $15.48 billion, a P/E ratio of 28.95, a P/E/G ratio of 2.87 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The firm had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. On average, equities research analysts expect that Akamai Technologies, Inc. will post 4.84 earnings per share for the current year.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.